HealthExec February 1, 2024
In a milestone for government efforts to reduce the cost of prescription medications, the Department of Health and Human Services (HHS) and the Centers for Medicare & Medicaid Services (CMS) have made their initial offers to pharmaceutical manufacturers on newly negotiable prices for 10 specific prescription drugs.
Details of the offer were not released and aren’t expected to be made public until a deal between the government and drug companies is reached sometime this fall, though analysts cited by Reuters expect steep cuts up to 60 percent.
The new Medicare Drug Price Negotiation Program was enacted as a part of the Inflation Reduction Act. Among the first 10 drugs to be renegotiated are the blood thinners Eliquis (Bristol Myers Squibb/Pfizer)...
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